News

House of Representatives Calls on Dangote Refinery to Reveal Petrol Pricing; See Reasons

Published by Tope Fakinlede on September 27th, 2024.

House of Representatives Calls on Dangote Refinery to Reveal Petrol Pricing; See Reasons

Aliko Dangote

The House of Representatives has urged Aliko Dangote, owner of Dangote Refinery, to disclose the pricing of petroleum sold to NNPC Limited and other major marketers. The request also extends to NNPC, asking for transparency regarding the costs incurred for crude oil from the refinery.

This resolution emerged from a motion introduced by Oboku Oforji during a plenary session. Reports indicate ongoing disputes between NNPC Limited and Dangote Refinery over the per-litre cost of petrol. While NNPC claims it is purchasing petrol at N898 per litre, Dangote has contested this figure, asserting that the selling price is lower.

To tackle the distribution challenges of its products, lawmakers encouraged Dangote Refinery to establish, acquire, or collaborate on Tank Farms or depots across Nigeria’s geopolitical zones.

Oforji praised the refinery for its contribution to the nation’s energy independence, stating, “Nigeria is progressing towards energy self-sufficiency, cost reduction, and foreign exchange savings while meeting the rising fuel demand and attracting foreign investment.”

For a more sustainable future, he suggested that Dangote Refinery should sell directly to independent marketers. The motion received unanimous support from the lawmakers.